According to disclosures from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority, Nest Trading Limited, a brokerage firm responsible for Binance's US stock trading services, has been confirmed as a Binance affiliate. Nest Trading was registered with ADGM on January 5th of this year, and its official website registration information also points to Binance. Previously, Binance described the company as an 'Independent Introducing Broker' that transmits user orders to Alpaca Securities. Nest Trading holds licenses related to investment brokerage, asset management, proprietary trading, currency services, and custody. However, due to regulatory restrictions, it cannot directly hold or control user funds and assets; order execution, clearing, and asset custody are handled by Alpaca Securities.
